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A popular on-chain analyst believes that Bitcoin (BTC) is in the process of carving a bottom following the high-profile collapse of FTX.
In a recent interview with crypto analyst Scott Melker, Willy Woo says on-chain signals are telling him that Bitcoin has a lot of buyers at BTC’s current price range even after the implosion of FTX.
According to the analyst, Bitcoin is now trading sideways between a narrow range of $16,000 to $18,000.

Says Woo,
“Certainly the indicators I have are showing, when you see a lot of coins moving and the price going sideways, that’s a sure sign of accumulation. And so that’s been happening. I’m tracking it. That’s the reason why it’s going sideways…
The indicators had bottomed. Particularly one [that] I was looking at was really supply that’s underwater. Every single cycle, there’s a trendline. It trends downwards, it trends downwards and when that trendline breaks to the upside, it’s always happened in the middle of an accumulation zone. And it broke in that sideways before the FTX debacle. 
So that’s actually my view is that we were setting up for a decent accumulation phase. We’re building that multiple month accumulation bottom. And then, ‘Wham!’ we had another round of deleveraging, but accumulation is still happening. So I think we were setting up for $18,000 to $24,000 sideways band for a few more months. And then we hit that. The deleveraging happened. So now we’re continuing that in the $16,000 to $18,000 band now.”
At time of writing, Bitcoin is changing hands for $17,250, up 1.62% on the day.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Mia Stendal/o_m
The post Bitcoin in Midst of Multi-Month Accumulation Bottom Despite FTX Debacle: On-Chain Analyst Willy Woo appeared first on The Daily Hodl.


A popular on-chain analyst believes that Bitcoin (BTC) is in the process of carving a bottom following the high-profile collapse of FTX. In a recent interview with crypto analyst Scott Melker, Willy Woo says on-chain signals are telling him that Bitcoin has a lot of buyers at BTC&#8217;s current ...

dailyhodl.com

Bitcoin in Midst of Multi-Month Accumulation Bottom Despite FTX Debacle: On-Chain Analyst Willy Woo

[PRESS RELEASE – Please Read Disclaimer]
The BitKeep mobile terminal is now compatible with WalletConnect 1.0 and 2.0 versions.
The Web 3.0 communication protocol WalletConnect has connected to the multi-chain wallet BitKeep, regarding BitKeep as a vital part of the “Wallet + DApp” ecosystem. Users can smoothly experience BitKeep wallet with WalletConnect by scanning the QR code on browsers or jumping to the APP through Deep Link to safely interact with all integrated DApps.
The BitKeep mobile terminal is now compatible with WalletConnect 1.0 and 2.0 versions. The implemented functions include the following:
1. Available for multi-chains such as EVM and Solana
2. DApp can initiate multi-chain connection requests at the same time
3. Reconnect when disconnected
Later versions will support Cosmos chain connections, switching between EVM chains on the authorized link page, multi-session, Chat, Push, etc.
“Previously in Web 3.0, mobile wallet and web DApp were isolated with relatively poor interaction and operability. A browser plug-in is an effective way to improve interaction, which is also the design idea of BitKeep,” Jack Tang from BitKeep developer team. “We have developed a mobile APP, a PC / H5 web page, and a Chrome plug-in. Meanwhile, we cooperated with WalletConnect to further meet users’ demands for multi-chain DApp integration.”
It is understood that both WalletConnect and BitKeep were established in 2018 and have gone through bulls and bears markets multiple times. They are committed to building the infrastructure of the Crypto industry to help more users and developers enjoy the convenience brought by financial paradigms and innovations. According to BitKeep developer Jack, “WalletConnect is an unbiased protocol representing the consensus of stakeholders in the ecosystem. They provide all wallets and DApps with equal and open communication opportunities by end-to-end encrypted communication at the bottom layer.”
“Insufficient convenience will restrict ecosystem development, thus it is critical to solve internal communication in Web 3.0.” By accessing WalletConnect, BitKeep has obtained an efficient solution combining web and mobile terminals to improve interoperability with DApps and strengthen user connection.
The product optimizations of WalletConnect 2.0 are compatible with BitKeep wallet:
1. Multi-chain Support
Multi-chain has always been the primary function of the BitKeep wallet. It currently supports more than 70 mainstream public chains. With multi-chain development, the demand for cross-chain interaction is proliferating. WalletConnect 2.0 adds availability for Cosmos, Polkadot, Solana, and Near; and DApps can request multi-chain connections. BitKeep has authorized connections for Ethereum, Polygon, and Solana; and Cosmos authorization will be functional in the next version.
2. Pairing & Session Separation
In response to the frequent pairing of the previous version, the WalletConnect 2.0 protocol will cache previously paired wallets. It can be shared between applications in the same browser through an iframe without repeated scan code pairing all over again. This optimization can also improve the wallet connection for GameFi when using the BitKeep APP.
3. Security Risks Shield
Security is also considered as one of the critical factors. The connection between BitKeep and WalletConnect reduces the exposure of the mnemonic and private keys. Similar to a sandbox environment, it keeps mnemonic and private keys in the mobile device without exposing them to DApps. The new version is achievable for the connection with DApps and transaction signature.
BitKeep’s mission is to design products for the next billion Web 3.0 users. The alliance between BitKeep and WalletConnect is committed to deepening the connection between mobile and web terminals, as well as wallet and DApps, attracting more users and paving the way for mainstreaming Web 3.0 in the future.
About BitKeep
BitKeep is the single largest Web3.0 multi-chain crypto wallet in Asia. Thanks to its safety, ease of use, and rich assets, it is a long-favored solution for more than 7 million global users in 168 countries. BitKeep has forged strategic partnerships with the world’s top 30 mainnets such as Ethereum, Polygon, Solana, and BNB Chain, becoming their authorized wallet.
BitKeep integrates 5 major modules of “Wallet,” “Swap,” “NFT Market,” “DApp,” and “Discover,” BitKeep supports 70+ mainnets, 15,000+ DApp, 1,000,000+ NFT and 250,000+ tokens. It also boasts popular features including DEX chart, InstantGas Swap, and NFT Trading Dividends. It’s the vision of BitKeep to provide the safest and most convenient one-stop service for global crypto investors.
The post Multi-Chain Wallet BitKeep Officially Connects to WalletConnect 2.0 appeared first on CryptoPotato.

[PRESS RELEASE &#8211; Please Read Disclaimer] The BitKeep mobile terminal is now compatible with WalletConnect 1.0 and 2.0 versions. The Web 3.0 communication protocol WalletConnect has connected to the multi-chain wallet BitKeep, regarding BitKeep as a vital part of the &#8220;Wallet + DApp&#82...

cryptopotato.com

Multi-Chain Wallet BitKeep Officially Connects to WalletConnect 2.0

Popular crypto analyst InvestAnswers says that an on-chain signal is suggesting that Bitcoin (BTC) is way overdue for a rally.
In a new strategy session, the pseudonymous analyst takes a look at Bitcoin’s realized price (RP) metric, which records the value of all BTC at the price they were bought, divided by the number of coins in circulation.

The analyst points out that historically, BTC has not stayed below the RP for long.
“We’re counting down to the next halving and here we’ve been under the realized price… it’s now 170 days and the actual price is under that RP of about $21,000, suggesting an upswing in the actual price is on the cards because we don’t stay down here that long, at least many believe…
This is a rainbow visual of the realized price. And you can see how the Bitcoin price is pretty much, most of the time, above the RP… It’s to the tune of like 97% of the time, 98% of the time it’s above that. Now it’s below. Now the question is, how does that shape up in history?”
Source: InvestAnswers/YouTube
According to the analyst, Bitcoin stayed below the RP for 110 days in 2011, 240 days in 2015, 115 days in 2018, 8 days in 2020 and 170 days so far in 2022, implying that a BTC bounce could be approaching.
Also suggesting that Bitcoin is ready for a rally is the increasing weakness in the US dollar index (DXY), says the analyst. DXY is the USD versus a basket of other major fiat currencies and is traditionally thought to be inversely correlated to risk-on assets like Bitcoin and crypto.
“This is a pretty cool sign because as we know, as DXY goes up, Bitcoin goes down, and vice-versa. They are inversely correlated. If history repeats – and we’ve said that a lot lately – this chart signals a possible breakdown. But you could also argue it already has broken down from 115 down below 109. But here we are again. If this does happen, this will be very good for the risk-on space as well.”
Source: InvestAnswers/YouTube

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Warm_Tail

The post Bitcoin (BTC) Overdue for a Rally As On-Chain Metrics Reach Historic Levels: InvestAnswers appeared first on The Daily Hodl.


Popular crypto analyst InvestAnswers says that an on-chain signal is suggesting that Bitcoin (BTC) is way overdue for a rally. In a new strategy session, the pseudonymous analyst takes a look at Bitcoin&#8217;s realized price (RP) metric, which records the value of all BTC at the price they were ...

Bitcoin (BTC) Overdue for a Rally As On-Chain Metrics Reach Historic Levels: InvestAnswers


December 1, 2022 – New York, New York


UnUniFi is very proud to announce the completion of a $1,500,000 strategic fundraise led by Gumi Cryptos Capital, with participation from Coincheck, Hyperithm, MZ Web3fund, Arriba Studio and GC Incubation.

Yu Kimura, founder of UnUniFi, said,
“The true utility of UnUniFi is NFTFi functionality with a proprietary valuation algorithm, combined with our interchain yield aggregator.”
UnUniFi is a layer one blockchain protocol for providing efficient NFT lending through an internal NFT marketplace on the Cosmos ecosystem. UnUniFi protocol started development in Q4 2021 and launched its mainnet in May 2022.
This strategic fundraise marks the conclusion of our seed funding round, with the support of venture capital funds and investors from around the world.
UnUniFi will use the funding from this seed round for continued development and scalability in line with the roadmap – with an immediate focus on delivering the product releases and PMF (product-market fit).
We are very grateful for such great support so early in our development, and we look forward to realizing our mission – “to give every NFT the opportunity to DeFi.”
Why is UnUniFi special
UnUniFi will be the first NFTFi platform to create a proprietary NFT valuation algorithm calculated using real demand data, while allowing its users to generate automatic DeFi yield on borrowed assets.
While other NFTFi platforms employ a peer-to-peer or liquidity pool lending model, UnUniFi combines real demand for the NFT itself with the intrinsic demand for liquidity generation, giving NFT holders faster and more flexible access to lending.
This technology is scalable for institutional users and can be implemented externally by other platforms as an NFT valuation oracle.
Additionally, UnUniFi’s API, client library, Bubble plugin and front end incentive module all combine to allow the project to become the first successful ecosystem with a truly ‘decentralized front end.’
Learn more here.
Rui Zhang, managing partner of Gumi Cryptos Capital, said,
“Many projects have tried to build a financing ecosystem around NFTs, since NFTs have become a significant asset class. However, due to the unique nature of NFTs, low liquidity causes situations where it is hard to recover financing capital. During distressed markets, this becomes a bottleneck.
“UnUniFi comprises of a marketplace infrastructure with built-in price discovery functionality – this allows liquidity to be secured from the beginning. We believe UnUniFi will be able to create opportunities for the huge market of NFTFi.”
What comes next
While the completion of the seed funding round represents a huge milestone for our team, UnUniFi’s immediate focus is on realizing its Q4 product releases and PMF.
These objectives include – bringing to market NFTFi functionality with the ability to collateralize NFTs, the interchain yield aggregator for automatic DeFi yield, enabling of Cosmos IBC (inter-blockchain communication) and more.
These core functionalities will help realize the foundations of a truly decentralized NFTFi platform. Through staggered updates and announcements, the goal is to continue creating rapid public awareness about the status and availability of our upcoming releases.
In order to expand the UnUniFi ecosystem, the team is actively seeking and negotiating with NFT projects (an NFT is not limited to art or pfp – there are many potential applications in real estate or securities domains, etc.), DApps and other potential partners to identify strategic partnerships.
UnUniFi continues to accept inquiries from external collaborators for consideration, where applicable, and welcome other projects to contact us and join the UnUniFi ecosystem.
In the meantime, we continue working on our deliverables and pushing forward in our mission to encourage the widespread adoption of NFTs as a legitimate asset class through practical and usable DeFi technologies.
About UnUniFi
UnUniFi is a layer one blockchain protocol for providing efficient NFT lending services through an internal NFT marketplace with auto DeFi yield – all built on the Cosmos ecosystem.
UnUniFi will be the first NFTFi platform to create a proprietary NFT valuation algorithm calculated using real demand data, while allowing its users to generate automatic DeFi yield on borrowed assets through an interchain yield aggregator.
UnUniFi aims to be a DApps platform with NFT price information at its core. The internal NFT marketplace provides valuable data for the NFT price discovery function, scalable for usage by external platforms and Cosmos IBC integration.
Follow us at the links below.
Website | Twitter | Discord | GitHub
Contact
Christopher Lee, UnUniFi
This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.

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The post UnUniFi Protocol Raises $1.5 Million in Seed Round To Build the First Decentralized Cross-Chain NFTFi Platform With Auto DeFi Yield appeared first on The Daily Hodl.


December 1, 2022 – New York, New York UnUniFi is very proud to announce the completion of a $1,500,000 strategic fundraise led by Gumi Cryptos Capital, with participation from Coincheck, Hyperithm, MZ Web3fund, Arriba Studio and GC Incubation. Yu Kimura, founder of UnUniFi, said, “The true utilit...

UnUniFi Protocol Raises $1.5 Million in Seed Round To Build the First Decentralized Cross-Chain NFTFi Platform With Auto DeFi Yield

Leading analytics firm Santiment says that a key metric is flashing a bullish signal for Ethereum (ETH) amid a persistent crypto bear market.
According to Santiment, Ethereum is flashing signs for a big rally after a surge in address activity, an on-chain metric that tracks the number of distinct ETH addresses that participated in a transfer on any given day.

“Ethereum’s active addresses surged to its highest level in over six weeks yesterday, and that likely factored into today’s price growth. On October 15th, the last time addresses spiked at this level, the price of ETH jumped +30% over the next three weeks.”
Source: Santiment/Twitter
Santiment also says the number of Ethereum whales and sharks, or entities holding between 100 to 100,000 ETH, are increasing since the high-profile implosion of FTX in early November.
“Ethereum’s large key addresses have been growing in number since the FTX debacle in early November. Pictured are the key moments where shark and whale addresses have accumulated and dumped. The number of 100 to 100,000 ETH addresses is at a 20-month high.”
Source: Santiment/Twitter
At time of writing, Ethereum is changing hands at $1,288.
Santiment is also keeping a close eye on Bitcoin’s (BTC) social dominance, a metric that tracks the share of the king crypto’s discussions in digital asset media. According to the insights firm, BTC’s social dominance is currently below average, indicating that the recent strength in the broader crypto markets is likely unsustainable.
“Bitcoin’s social dominance remains low, as traders are seemingly disinterested in crypto’s number one while altcoins have had more movement these past couple weeks. One of the primary ingredients for ALL prices to surge is a high BTC social dominance. “
Source: Santiment/Twitter
At time of writing, Bitcoin is swapping hands for $17,154.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Mia Stendal
The post On-Chain Ethereum Metric Flashing Bullish Signal, According to Crypto Insights Firm Santiment appeared first on The Daily Hodl.


Leading analytics firm Santiment says that a key metric is flashing a bullish signal for Ethereum (ETH) amid a persistent crypto bear market. According to Santiment, Ethereum is flashing signs for a big rally after a surge in address activity, an on-chain metric that tracks the number of distinct...

Chain price	$0.039039
Low - High 24H	$0.038349 - $0.039221
Market cap	$838.19M
Volume 24H	$11.19M
All time high	$0.184139 -78.82% May 27th 2022
All time low	$0.002872 1258.12% June 14th 2022
Genesis date	N/A

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